Monero (XMR) continues to dominate the charts even though other major assets are facing resistance. CoinGecko data shows that XMR’s price has risen by 2% in the last 24 hours, 24.7% in the 14-day charts, and 41.7% over the previous month. Let’s discuss what’s pushing Monero’s (XMR) price rally and if the upswing can sustain itself.
What’s Behind Monero’s Price Rally?
Monero’s (XMR) price rally comes after THORChain opened direct trading for the asset. The move has likely increased investor sentiment. The move could also lead to more adoption for the privacy-focussed cryptocurrency.
Monero’s (XMR) upward momentum began after the cryptocurrency market as a whole faced a bullish upswing in late August 2026. The market-wide rally was fueled by President Trump’s cryptocurrency event at the White House and his statements about the US planning to purchase a large amount of crypto assets. The rally was further propelled by the US Treasury’s decision to increase bond buy backs. The Treasury’s decision may have injected more liquidity into the cryptocurrency market.
Monero (XMR) has seen increased price action over the last year. XMR’s price rally came as more and more people became worried about increased monetary surveillance. XMR being a privacy-focussed cryptocurrency may have become attractive to a lot of people who want anonymity.
Will The Rally Sustain?
The cryptocurrency market is already showing signs of weakness. Bitcoin (BTC) has fallen to the $78,000 mark after briefly breaching $80,000. BTC has since entered a sideways trajectory. Other assets are likely to follow BTC’s path.
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Moreover, the THORChain direct trading news may not be enough to sustain Monero’s (XMR) price rally. The larger cryptocurrency market may put pressure on the asset and we may see a correction soon.
The liquidity injected by the US Treasury will also need to be eventually paid back. When that happens we may see capital flow out of the cryptocurrency market. Monero (XMR) could see a price dip under such circumstances.